Coupang (NYSE:CPNG) Stock Rating Upgraded by CLSA

CLSA upgraded shares of Coupang (NYSE:CPNG) from a hold rating to an outperform rating in a research note released on Wednesday morning, Marketbeat reports. They currently have $31.00 price target on the stock, up from their previous price target of $18.00.

Several other equities analysts have also recently weighed in on CPNG. Citigroup boosted their price objective on Coupang from $26.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Morgan Stanley upped their price target on Coupang from $26.00 to $27.00 and gave the company an overweight rating in a report on Wednesday, June 26th. UBS Group raised Coupang from a neutral rating to a buy rating and upped their price target for the company from $18.50 to $26.00 in a report on Thursday, May 16th. Mizuho upped their price target on Coupang from $20.00 to $23.00 and gave the company a neutral rating in a report on Wednesday, May 8th. Finally, Barclays upped their price target on Coupang from $25.00 to $32.00 and gave the company an overweight rating in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $27.25.

Coupang Price Performance

Shares of NYSE:CPNG opened at $22.00 on Wednesday. Coupang has a fifty-two week low of $13.51 and a fifty-two week high of $23.99. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. The stock has a market capitalization of $39.34 billion, a P/E ratio of 31.43, a P/E/G ratio of 877.23 and a beta of 1.10. The business has a 50-day moving average of $21.59 and a two-hundred day moving average of $20.93.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.39 billion. During the same quarter in the previous year, the firm earned $0.08 EPS. The firm’s revenue was up 25.4% compared to the same quarter last year. On average, equities research analysts predict that Coupang will post 0.14 EPS for the current fiscal year.

Insider Activity

In other news, Director Benjamin Sun sold 700,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the sale, the director now directly owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Pranam Kolari sold 10,432 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the sale, the insider now owns 170,356 shares in the company, valued at $3,390,084.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin Sun sold 700,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $20.63, for a total value of $14,441,000.00. Following the completion of the sale, the director now owns 2,169,421 shares of the company’s stock, valued at $44,755,155.23. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 601,300 shares of company stock worth $13,604,354 and have sold 1,110,432 shares worth $23,870,597. Corporate insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Coupang

A number of hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new position in shares of Coupang during the second quarter worth approximately $243,000. Cetera Investment Advisers lifted its holdings in Coupang by 122.7% during the 2nd quarter. Cetera Investment Advisers now owns 65,332 shares of the company’s stock worth $1,369,000 after buying an additional 35,992 shares in the last quarter. Truist Financial Corp boosted its position in Coupang by 585.9% in the 2nd quarter. Truist Financial Corp now owns 96,187 shares of the company’s stock valued at $2,015,000 after buying an additional 82,164 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Coupang by 97,573.0% in the 2nd quarter. NewEdge Advisors LLC now owns 97,673 shares of the company’s stock valued at $2,046,000 after buying an additional 97,573 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Coupang during the second quarter worth $3,850,000. Institutional investors own 83.72% of the company’s stock.

About Coupang

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.